TRUSTED CONSUMER PROPOSAL ADMINISTRATORS AND BANKRUPTCY HELP EXPERTS
Canada’s Insolvency & Debt Relief Professionals
We have been online for over 20 years. We are proud to have helped Canadians from every walk of life get a fresh financial start.
Going bankrupt gives you a quick fresh start and is good for debtors with few assets and lots of unsecured debts. Your money problems can be solved with a consumer proposal if you have a good income and assets you would like to protect.Over 100,000+ People Helped
Online Since 1999
430 Trustee Offices Across Canada
200,000 Canadians Helped!
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We help people get a fresh financial start.
Bankruptcy in Canada is a legal process that stops wage garnishments, collection calls and gives you a fresh start. You can keep your assets and bankruptcy is often the most affordable way to get debt relief. Speak to a Licensed Insolvency Trustee to learn how going bankrupt can provide debt and stress relief. Learn about surplus income payments, how to stop legal action against you, and how it will impact your credit rating and credit report.Read more
How to File
Going bankrupt is a legal process that provides debt relief and government protection. Learn about the steps in the process, how much it costs, whether you are eligible and how you can get an automatic discharge in as little as 9 months!Read more
Alternatives to Going Bankrupt
People struggling with debts who want to avoid bankruptcy have alternatives available to them. It should always be considered a last resort, after alternative debt solutions, such as a consumer proposal, have been explored.Read more
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We help people get a fresh financial start.
We have been online since 1999 and have more than 430 trustee offices across Canada.
Get answers to all of your bankruptcy questions here!
Bankruptcy in Canada: The cost of going bankrupt is set by the government. The cost is the same regardless of the trustee you choose to work with.
Benefits of Working With Our Licensed Insolvency Trustee Experts
The Team of Licensed Insolvency Trustees and Consumer Proposal Administrators of our Canadian insolvency team are the Most Experienced and Knowledgeable Debt Relief Experts in Canada
People struggling with credit card debt and mostly unsecured debts would likely benefit from going bankrupt, while debtors with secured debt might want to consider a consumer proposal.
Local insolvency trustees and consumer proposal administrators are available to assist you with getting out of debt.
Filing a consumer proposal allows you to save your assets and get out of debt, although it often takes longer than going bankrupt. Credit counselling is also available to help get your finances under control.
Only a Licensed Insolvency Trustee (LIT) is sanctioned and licensed by the Canadian government to provide insolvency and consumer proposal services.
All LITs (Licensed Insolvency Trustees, or formerly a bankruptcy trustee) in Canada are trained, experienced and ethically trained. BankruptcyCanada has chosen to partner with the top consumer debt proposal firms in Canada so you can get a fresh start.
Canadians that are trapped in debt are welcome to browse our website to find information on going bankrupt and alternatives to going bankrupt such as a consumer proposal or a debt consolidation service.
You will find answers to many of your initial consumer proposal questions right here.
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The bankruptcy process is governed by the Bankruptcy and Insolvency Act.
Once the process has started, you will receive protection from your creditors, and wage garnishments, lawsuits and any collections against you will stop.
During the process you will have to complete certain duties, and meet with your trustee for two credit counselling sessions.
A meeting of creditors is rarely called when a person goes bankrupt. Unsecured creditors are only impacted by going bankrupt, as secured debts are not discharged.
Secured creditors will still have to be paid if you wish to keep your house, vehicle or other secured debts.
As such, debts such as credit cards, personal loans, payday loan and income taxes can be included in your insolvency filing, but secured debt such as mortgage debt, alimony and child support cannot.
Bankruptcy proceedings can be over in as little as 9 months and you will have the ability to begin your fresh start once you have been discharged from your case. Bankruptcy Canada is here to help you with all of your debt relief needs.